Hurricane Preparedness Checklist – Step 1 Review Your Insurance Policies
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IS YOUR COVERAGE UP TO DATE?
You should make sure your insurance coverage reflects the current stat of your home. So if you’ve done anything that increases the value of your home or its contents, such as building an addition or remodeling, you should immediately talk with your insurance agent, so that you can decide if your current insurance is sufficient or if any protections should be updated.
DO YOU HAVE COVERAGE FOR ADDITIONAL LIVING EXPENSES?
This coverage is intended tohelp pay for the increased cost of living away from home if your house is uninhabitable due to a covered loss.This may include payments for the additional costs of food and a place to stay. Additional living expenses may or may not already be included in your homeowners policy. Talk to your insurance agent about what coverages are available to you.
DO YOU HAVE COVERAGE FOR FLOODS?
Most homeowners policies do not usually cover flood damage. And heres something to think about: One third of all flood insurance claims last year came from areas not considered high-risk. So, even if you dont live in a flood zone, you may want to consider purchasing flood coverage.
The National Flood Insurance Program (NFIP) is the primary source for flood insurance in the United States. You can go to their website at www.floodsmart.gov or contact your agent for more information. NOTE: There is often a 30-day waiting period after you buy a flood insurance policy before flood coverage takes effect.
DO YOU HAVE COMPREHENSIVE CAR COVERAGE?
If your car is damaged by anything other than a collision, like a falling tree, collision coverage wont protect you. Youll also need comprehensive coverage on your auto policy. And if you have to leave your car at the shop, youll also want to consider rental car coverage.
In part two well discuss how you can perform a home inventory.
Hurricane Preparedness Checklist Series
Part 1 – Review Your Insurance Coverages
Part 3 – Protect Your Property
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